The more I think about it, the more I believe that when the SEC traced back who was doing those trades, the trail led directly into the Saudi royal family (among other places). I think the reason we haven't heard more of this, is because it was a can of worms the Administration did not want to open at this time.
If the trail led to Iraqi or bin Laden fronts, it would have been all over the news. This also ties in with reports that the Saudis have been uncooperative in freezing assets of bin Laden fronts
Because the Saudi family is a puppet government set up by the Western powers after WW1 and is tenuously holding on despite the challenges of their discontented minions, your premise seems unlikely.
The current unrest has caused the Royal family to flee the country, leaving the Prince in charge.